Canadian Financial Close: C$ steady ahead of U.S. Fed

The Canadian dollar held steady on Tuesday, with currency traders showing a reluctance to push values too far one way or the other ahead of Wednesday’s interest rate announcement from the United States Federal Reserve.

The Canadian dollar settled at US$0.7220 or US$1=C$1.3851 on Tuesday, which compares with Monday’s close of US$0.7219 or US$1=C$1.3852.

General expectations are that the Fed will hold rates steady for the time being, but the accompanying statement will be followed closely for hints at future moves.

Crude oil was weaker, with West Texas crude oil down by 0.83 per cent at US$75.18 per barrel.

The TSX Composite Index gained 41.10 points to close at 22,824.67 points.

Canada’s agricultural sector performed as follows:

Buhler Ind.———————-    $ 0.00    at $  2.03

Linamar Corp.——————–dn  $ 0.83    at $ 67.05

Maple Leaf Foods—————–up  $ 0.38    at $ 25.10

Nutrien Ltd.———————up  $ 0.56    at $ 70.30

RB Global Inc.——————-dn  $ 0.53    at $109.96

Farmers Edge Inc.—————-    $ 0.00    at $  0.345

(All figures are in Canadian dollars.)